Many homeowners have recently seen the amount of equity they have in their homes increase. According to Lendingtree.com, an average of 16.85% of homeowners considered a home equity loan or HELOC. And with home prices in many parts of the U.S. have risen dramatically. Because of this, it’s no surprise that millions of Americans considered […]
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In 2019, about 37% of U.S. households owned their homes “free and clear,” meaning they no longer have a home mortgage to pay, according to a Zillow data analysis. This number ticked upward after the Great Recession, and over the past ten years, the share of homeowners paying off their mortgages has risen 5.5 percentage
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Owning a car is costly. Aside from the cost of the vehicle itself, you have to pay for gas, insurance, maintenance and the dreaded repairs. But you need a car to get to work and go to the grocery and having one helps facilitate many other daily tasks. According to money.usnews.com, around 64% of Americans
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A credit card can help you build credit history and scores, enabling you to find housing, buy a car and sometimes even get a job. According to the 2019 Experian Consumer Credit Review, the average American has four credit cards. In fact, not having a credit card in the United States makes it almost impossible
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Most Americans don’t understand the differences between modular homes, manufactured homes, and mobile homes. According to manufacturedhousing.org, the manufactured housing industry produced 105,772 new homes in 2021, and there are nearly seven million manufactured homes in the United States, according to the U.S. Census Bureau. Approximately 9% were new single-family homes. They’re Both Considered Prefab
Modular vs. Manufactured Homes: What’s the Difference? Read More »
With rising real estate pricing and many consumers squeezed out of the traditional site-built marketplace, many are turning to mobile or manufactured homes as starter homes. Many consumers are pleasantly surprised by the range of choices and customizations offered by a new generation of manufactured homes. According to manufacturedhousing.org, the manufactured housing industry produced 105,772
Mobile Home vs. Manufactured Home: What’s the Difference? Read More »
There’s no doubt that cryptocurrency is on the rise globally. And according to Bloomberg, the crypto-loan market is at $5 billion and growing. It’s becoming increasingly likely that other countries will embrace some form of cryptocurrency in their existing financial models. El Salvador, for example, became the first country to adopt Bitcoin as a legal
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Disclaimer: Credit Summit may be affiliated with some of the companies mentioned in this article. Credit Summit may make money from advertisements, or when you contact a company through our platform. Being buried in a mountain of debt can lead to anxiety and depression, increasing headaches, affecting sleeping patterns, and impacting a person’s ability to
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Did you know that one of the main reasons people file for bankruptcy is because they are buried in medical bills? The 2020 SIPP survey suggests Americans’ collective medical debt totaled at least $195 billion in 2019. According to a Forbes report, half of Americans now carry medical debt, up from 46% in 2020. That
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Good credit plays an essential role in your financial life. It is necessary to qualify for a loan or get a credit card and for things like getting cellular telephone service, renting a car, and perhaps even getting a job. Your credit history and credit scores are your purchasing power. It’s not possible to stress
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